Daily analysis of #BTC

1️⃣ Structural Interpretation The current market structure of Bitcoin is significantly influenced by the behavior of large whales. In the past 30 days, the inflow of funds from BTC whales to the Binance exchange reached $7.5 billion, the highest level in the past year. Current data shows that whales are either taking profits or managing risk during market weakness, which has added additional selling pressure to the market.
2️⃣ Capital Flow & On-chain & Exchange Dynamics On-chain Data (Whales' "Bottom Card" Trends): Whales continue to deposit to exchanges. According to CryptoQuant analyst maartunn's data, the 30-day inflow indicator is still on the rise, and the data has not yet shown that selling pressure has stabilized. Exchange Dynamics (Market "Sentiment" Thermometer): Bears have been severely hit. In the past 24 hours, Bitcoin short positions faced liquidations amounting to $111 million. This indicates that despite potential downward pressure in the market, traders who shorted against the trend have also paid a hefty price.
3️⃣ Be cautious when trading intraday and pursue long positions. Focus on the sustainability of the rebounds. Pay attention to key position breakthroughs. The area around 92000-93000 is a key resistance level. If the price strongly reaches this area, observe the strength of the candlestick. If there are obvious upper shadows, bearish engulfing patterns, or signs of reduced trading volume indicating a stagnation, then consider entering short positions. This is still a relatively stable short entry point. If the pressure zone is broken, then we need to pay attention to the suppression situation on the 4-hour chart, and we can consider continuing to short. The premise is that weak conditions must appear.
4️⃣ Risk Warning Whale Sell-off Risk: The potential selling pressure of $7.5 billion hangs over the market like the sword of Damocles. If whales choose to sell their deposited assets on the exchange, it may trigger drastic price fluctuations. High Volatility Risk: The large transactions by whales themselves can exacerbate short-term market volatility, leading to rapid and unpredictable price changes. Sentiment Reversal Risk: A large number of short positions being liquidated may relieve the downward pressure in the short term, but it could also trigger short covering (buying to close short positions), which in turn drives prices to rebound quickly, forming a "short squeeze."